Xpel’s profits dip by 56 percent

San Antonio-based Xpel Technologies Corp. said Tuesday its third-quarter earnings fell by 56 percent compared to the same time last year because of the global economic downturn and sluggish auto sales.

Xpel, which sells paint and headlight protection kits for cars, trucks and motorcycles, reported quarterly earnings of $67,628, compared with $153,339 in the same period last year. The company had a net gain of $154,952 for the first nine months of this year, compared with a loss of $983,182 for the same period last year.

Xpel also said it incurred a one-time loss during the third quarter of $756,118 on the October sale of its Canadian subsidiary, Xpel Canada.